Formosa Petrochemical Appoints Ex-CPC Boss as Chairman

6:31 AM MDT | September 15, 2011 | Ian Young

Formosa Petrochemical, part of the Formosa Plastics Group (FPG; Taipei), has appointed Chen Bao-lang as its new chairman, effective today. Chen succeeds Wilfred Wang, who resigned in late July following a series of fires at Formosa Petrochemical's Mailiao, Taiwan manufacturing complex during the previous year. Su Chi-yi also resigned as president of Formosa Petrochemical in late July and his successor has not yet been announced. Chen has also been named chairman of Nan Ya Plastics, another FPG subsidiary, succeeding Wu Chin-jen. Chen has come out of retirement to...